I said I started talking SS at 65 1/2. Don't know where that came from, but it was at 62 1/2. I've been getting it for nearly 3 years.

And if I had it to write over again, I'd say something like: even if the 'breakeven' is 84, suppose you live to 90. You've "lost" 6 years worth of increases, but I submit that the money is better used when you are younger, more active, more able to use it to travel, for entertainment, etc. As you age (especially past 85, in my experience), your world tightens. Foreign travel is a chore, entertainment mostly consists of getting together with friends for a meal, or perhaps watching television.

Now other people may have different experience, but based on my parents, Mrs. Goofy's parents, and others we have known, I think I'd rather have a few extra bucks now than worry about having a few less when I'm 87. (Of course I intend to have plenty enough to get into a retirement home, but then your world diminishes even more.)

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.

Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.